Starting in

Days

Catch up with all the buzz in the world of crypto with BTC Wires. Here, we bring all the breaking stories, feature announcements, public statements and multinational plans of well-known industry investors.

Trending Posts

Let your queries be sorted out by some brilliant minds of Blockchain Ecosystem!
BTC Wires has this syndicated interview column that has up-close and personal interviews of some of the game changers in the world of cryptocurrency. Know what they have in their sack for you.

Navigating the crypto world is a daunting challenge owing to those confusing technical concepts, isn’t it?
Lucky You! You are at BTC Wires.
With an aim to keep you in touch with the current market trends of the crypto world, BTC Wires brings you the in-depth analysis of all the happenings so you can stand firm in this ecosystem.

Recent Posts

Trending Posts

At BTC Wires, we love guiding passion-fuelled aspirants with the right amount of information so they can find effective ways to grow with the trend. Thus, we have come up with this Encyclopedia that covers all the aspects of Blockchain Ecosystems.

Can Blockchain Salvage UK’s Post Brexit Mess?

It’s no secret that blockchain has found its way into many governments who rely on it heavily now for certain functions. From taxes, to legal enforcement, to cross border transactions; blockchain has set a whole new precedent of procedural conduct in such cases. Which is why it is not surprising that UK’s government is leaning heavily on this revolutionary technology to salvage their post Brexit relationship with the European Union.

The UK government recently published their post Brexit agreement with EU, in a document titled ‘The future relationship between the United Kingdom and the European Union.’ A highlight of the agreement is a new customs arrangement which is aimed at establishing a “new trading relationship between the UK and the EU” which would ensure frictionless access to each other’s borders and markets for goods. The new tariff system proposes that goods reaching the UK will have to pay UK tariffs and those destined for further in Europe will have to pay EU tariffs.

The agreement says that a “phased approach to implementation of this model” will be done and it is evident that this would require some sophisticated technology for a smooth transition. Cross border data sharing would also require “storing of the entire chain of transactions for each goods consignment, while enabling that data to be shared securely between traders and across relevant government departments”. This could check any import export fraud and reduce effort and time consumption. The UK government plans to explore blockchain, AI and machine learning for the above purposes.

What hinders this process of tech exploration is the little or no knowledge that politicians actually have about such sophisticated technology. The government tech projects often fail to deliver what they set out to deliver in the first place. Such ignorance in today’s tech driven world could be a deterrent to actual progress of the country. What this UK government needs to have is an intelligent political class that can steer this technology implementation in the right direction.

About

BTC Wires is an online digital media platform which provides information for the crypto and blockchain technology fraternity. As the demand for Cryptocurrency is riding high these days, it is our mandate to educate, inform and connect the readers and experts over the globeRead More

Disclaimer

BTC Wires is an independent media company. We try to provide content that is as accurate as possible. Any brands, companies or currencies mentioned in the news or our articles are as required and we are not official representatives of any such brand, company or currency.